Northrop Grumman Profit Boosted by Lower Costs

Defense Contractor Reports Lower Revenue, Boosts EPS Profit View

Northrop Grumman Corp. on Wednesday reported a 4.7% increase in second-quarter profit as the defense contractor cut costs, masking a decrease in sales.

The company boosted its earnings outlook for the year, now expecting a per-share profit of $9.15 to $9.35, compared with its prior forecast of $8.90 to $9.15 a share. Northrop Grumman reiterated its sales outlook, continuing to call for revenue of $23.5 billion to $23.8 billion.